GOGL - Repurchase of shares

Hamilton, Bermuda, September 23, 2011

Golden Ocean Group Limited ("Golden Ocean" or the "Company") announces that is has through market purchases executed September 23, repurchased 350,000 of the Company's own common stocks. The shares have been bought on the Oslo Stock Exchange at an average price of NOK 4.03 per share. After this transaction Golden Ocean holds a total of 350,000 own shares.

The transaction is part of the share buyback program announced on September 5, 2011.

Golden Ocean Group Limited press release